智通财经APP获悉，歌礼制药-B(01672)涨超3%，近一个月股价累计涨幅超1倍。截至发稿，涨3.49%， 报18.36港元，成交额1.42亿港元。 消息面上，8月15日，歌礼制药-B发布截至2025年6月30日止6个月的中期业绩，该集团取得收入总额人 民币1.04亿元(单位下同)，同比增加111.4%；研发成本1.47亿元，同比增加10.9%；公司权益股东应占亏 损8795.1万元，同比减少32.5%；每股亏损9.14分。 本集团开展美国IIa期研究并于仅一月余内迅速完成125名受试者入组；ASC30每月一次或更低频次皮下 注射治疗肥胖症：在美国Ib期研究中，单次皮下注射后在肥胖症患者中表现出36天半衰期，支持每月一 次或更低频次给药。 于报告期内及直至本公告日期，本集团在代谢性疾病管线、免疫性疾病管线及拓展性适应症产品管线方 面取得重大进展：ASC30每日一次口服片治疗肥胖症：在美国Ib期研究中，经28天治疗后，经安慰剂校 准后的相对基线的平均体重下降高达6.5%，证明其有望成为治疗肥胖症的同类最佳候选药物。 ...

Core Insights - The company announced promising preclinical efficacy results for its obesity treatment candidate ASC47 in combination with the dual-target peptide ASC31 [1][2] - ASC31 is a novel GLP-1R and GIPR dual-target agonist peptide developed by the company, showing favorable pharmacokinetic characteristics and positive in vivo efficacy in DIO mice [1][2] - ASC47 is a selective small molecule agonist of thyroid hormone receptor β (THRβ) designed for monthly subcutaneous injection, targeting fat tissue to achieve high drug concentrations [1] Clinical Study Results - A study comparing low-dose ASC47 (9 mg/kg, subcutaneous) combined with ASC31 (3 nmol/kg, subcutaneous) versus ASC47 combined with terzepatide (3 nmol/kg, subcutaneous) over 14 days showed that the ASC47 and ASC31 combination resulted in an average weight loss of 44.8%, which is 17.6% more than the ASC47 and terzepatide combination (38.1%) [2] - The CEO highlighted the significant differentiation potential of the new therapy compared to existing weight loss drugs and other candidates in development, indicating a robust pipeline for obesity treatments that includes both small molecules and peptides [2]

Core Insights - The company announced promising preclinical efficacy results for its obesity treatment candidates ASC47 and ASC31, which are a combination of a novel GLP-1R/GIPR dual agonist and a selective THRβ agonist [1][2] Group 1: Drug Candidates - ASC31 is a novel GLP-1R and GIPR dual agonist peptide developed by the company, showing good pharmacokinetic characteristics in non-human primates and positive in vivo efficacy in DIO mice [1] - ASC47 is a fat-targeting, once-monthly subcutaneous THRβ selective small molecule agonist, which achieves high drug concentrations in adipose tissue in a dose-dependent manner [1] Group 2: Clinical Study Results - A study comparing low-dose ASC47 (9 mg/kg, subcutaneous) combined with ASC31 (3 nmol/kg, subcutaneous) versus ASC47 combined with teriparatide (3 nmol/kg, subcutaneous) over 14 days showed that the ASC47 and ASC31 combination resulted in an average weight loss of 44.8%, which is 17.6% more than the 38.1% weight loss observed with ASC47 and teriparatide [2] - The CEO highlighted the significant differentiation potential of the new therapy compared to existing weight loss drugs and other candidates in development, indicating a robust pipeline of obesity treatment options that include both small molecules and peptides [2]

ASC31是一款由歌礼自主研发的新型GLP-1R和GIPR双靶点激动剂多肽，在非人灵长类动物中显示出良 好的药代动力学特征，同时显示出积极的体外活性并在DIO小鼠中显示出积极的体内疗效。ASC31体现 了歌礼应用超长效药物开发平台(Ultra-Long-Acting Platform，ULAP)自主研发新型皮下注射多肽和口服 多肽的部分成果。ASC47是一款由歌礼自主研发的、脂肪靶向、每月一次皮下注射的甲状腺激素受体 β(THRβ)选择性小分子激动剂。ASC47具有独特的差异化特性，能够靶向脂肪，从而在脂肪组织中产生 剂量依赖性的高药物浓度。 "我们的新型GLP-1R/GIPR双受体激动剂多肽ASC31联合THRβ激动剂ASC47在该动物模型中表现出优异 的减重效果，这款新疗法相较于已上市的减肥药物及其他在研候选药物展现出了显著的差异化潜 力，"歌礼创始人、董事会主席兼首席执行官吴劲梓博士表示，"歌礼正在构建一系列强健的、同时涵盖 小分子和多肽的肥胖症潜在疗法的管线，我们期待在未来分享更多的进展。" 格隆汇8月18日丨歌礼制药-B(01672.HK)发布公告，同类首创的治疗肥胖症的减重不减肌候选药物 ASC4 ...

Ascletis Pharma Inc. （股份代號：1672） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容所產生或因依 賴該等內容而引致的任何損失承擔任何責任。 歌禮製藥有限公司 （於開曼群島註冊成立的有限公司） － 在飲食誘導肥胖(DIO)小鼠模型中，低劑量ASC47與新型GLP-1R/GIPR雙受 體激動劑多肽ASC31聯用治療14天後，小鼠體重下降44.8%。 － 在DIO小鼠模型中，低劑量ASC47與ASC31聯用的療效（減重44.8%）優於低 劑量ASC47與替爾泊肽聯用（減重38.1%），療效差異具有統計學顯著性。 該DIO小鼠研究旨在對比低劑量ASC47（9 mg/kg，皮下）聯合ASC31（3 nmol/kg， 皮下）與低劑量ASC47（9 mg/kg，皮下）聯合替爾泊肽（3 nmol/kg，皮下）的減 重療效，治療期為14天。結果顯示，ASC47聯合ASC31治療DIO小鼠平均減重 44.8%，比ASC47聯合替爾泊肽(38.1%)多減重17.6%（ p =0.02）。 「我們的 ...

Core Viewpoint - The company has shown strong progress in its core pipelines and financial performance in the first half of 2025, with significant revenue growth and promising clinical data expected in the near future [1][2][3] Financial Performance - The company's main operating revenue for H1 2025 was 1.08 million, primarily from R&D services [1] - R&D expenses for H1 2025 were 146 million, a year-on-year increase of 10.9%, with effective pipeline adjustments and cost optimizations [1] - Cash and cash equivalents at the end of H1 2025 reached 1.58 billion, a year-on-year increase of 361.9%, mainly due to the maturity of time deposits [1] Pipeline Development - ASC30, the company's core small molecule GLP-1 pipeline, demonstrated a 6.5% weight loss in a 4-week Phase I trial in the U.S., outperforming Eli Lilly's small molecule GLP-1 [1] - The company is currently conducting a Phase IIa trial for ASC30, with top-line data expected in Q4 2025 [1] - ASC47, a new THR-β target pipeline, is in Phase I clinical trials in the U.S., with top-line data anticipated in Q4 2025 [2] - ASC50, an oral small molecule for IL-17, is also in Phase I clinical trials, with top-line data expected by the end of 2025 [2] - The oral small molecule FASN inhibitor, Denifasita, is projected to submit a market application in China by 2026 based on excellent Phase III data [2] Profit Forecast and Investment Rating - The company’s pipeline progress aligns with expectations, increasing the likelihood of successful product launches [3] - Revenue forecasts for 2025-2027 have been adjusted to 0.02 billion, 0.64 billion, and 2.03 billion respectively [3] - The target price has been raised to 29.26 HKD, maintaining a "buy" rating based on improved pipeline success rates [3]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Insights - The report highlights that the company has made significant progress in its overseas clinical trials, which enhances the probability of success for its long-term pipeline [1] - The revenue forecast for 2025 has been adjusted upwards to 0.02 billion, 0.64 billion, and 2.03 billion for the years 2025, 2026, and 2027 respectively, indicating a positive outlook [1] - The target price has been raised to 29.26 HKD, reflecting increased confidence in the company's pipeline success [1] Financial Performance Summary - Total revenue for 2023 is projected at 56.69 million, with a year-on-year growth of 4.81% [1] - The net profit attributable to the parent company is expected to be negative at (144.72) million for 2023, with a year-on-year increase of 54.04% [1] - The earnings per share (EPS) for 2025 is estimated at (0.43) HKD, with a price-to-earnings (P/E) ratio of (18.70) [1] Pipeline Development - ASC30, the company's core GLP-1 pipeline, is currently in Phase IIa clinical trials in the US, with expected top-line data release in Q4 2025 [1] - ASC47, a new THR-β target pipeline, is also in clinical trials, with data expected in Q4 2025 [1] - ASC50, an oral small molecule for psoriasis, is in Phase I clinical trials, with top-line data anticipated by the end of 2025 [1] - The company has a strong cash position of 1.58 billion at the end of H1 2025, which supports ongoing research and development [1]

Core Viewpoint - Songlei Pharmaceutical-B has announced the completion of the Phase IIa study for its small molecule oral GLP-1R agonist ASC30, targeting obesity or overweight subjects, indicating rapid clinical advancement in a competitive market [1][2]. Group 1: Clinical Progress - ASC30 is the first and only small molecule GLP-1R agonist developed by the company that can be administered either orally once daily or via subcutaneous injection once monthly. The company initiated the Phase IIa clinical trial in early July and enrolled 125 subjects in just over a month, showcasing high efficiency. The treatment period lasts for 13 weeks, with top-line data expected in Q4 2025. Currently, the fastest progress in the global small molecule GLP-1 development pipeline is by Eli Lilly with Orforglipron, which has submitted an FDA application, while Pfizer has abandoned its small molecule GLP-1 pipeline, placing ASC30 in a competitive catch-up position [1]. Group 2: Potential and Safety Profile - ASC30 demonstrates potential to become a Best in Class (BIC) treatment due to its safety profile and rapid weight loss capabilities. According to data presented at the ADA conference from the Phase I MAD study, the average weight loss after four weeks was 6.4%. No severe adverse reactions, such as hepatotoxicity, were observed, and treatment-emergent adverse events (TEAEs) were mild, with no vomiting reported at doses of 2mg and 5mg. This positions ASC30 favorably in the market [1]. Group 3: ASC47 Development - ASC47, another small molecule THRβ agonist developed by the company, is designed for monthly injection and is currently in clinical trials in combination with semaglutide for treating obesity. ASC47 targets adipose tissue and is expected to provide synergistic effects when used with GLP-1, helping to reduce muscle loss while enhancing weight loss efficacy. The design of ASC47 allows for convenient monthly administration alongside GLP-1 [2]. Group 4: Financial Forecast - The company anticipates increased overseas clinical investment, projecting R&D expenses of 415 million, 487 million, and 540 million yuan for 2025, 2026, and 2027, respectively. The net profit attributable to the parent company is forecasted to be -372 million, -467 million, and -562 million yuan for the same years. Given the rapid clinical progress of ASC30 and ASC47, the company is positioned to achieve Best in Class potential in the small molecule weight loss drug development space, leading to a "Buy" investment rating [2].

格隆汇8月15日丨歌礼制药-B(1672.HK)在港交所发布中期业绩报告，上半年收入1.04亿元，同比增加 111.4%；净亏损8795.1万元，同比收窄32.5%。 ...

每经AI快讯，8月15日，歌礼制药-B(01672.HK)在港交所发布中期业绩报告，上半年收入1.04亿元，同 比增加111.4%；净亏损8795.1万元，同比收窄32.5%。 ...